July 18, 2024

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Lego profits soar as parents seek solution for bored kids

A developed-up trend for Lego sets during lockdown has sent growth at the Danish toy maker surging to a 5-12 months superior.

Extra older people are acquiring themselves bigger and more intricate Lego sets amid a research for hobbies while retailers, pubs and eating places are shut. A detailed Lamborghini car or truck is among the very best-advertising merchandise.

On line product sales were also boosted as shops around the world were compelled to close and parents sought to entertain little ones trapped at house.

Running earnings rose 19pc to 12.9bn Danish kroner (£1.5bn) previous 12 months while revenues climbed 13pc to 43.7bn kroner (£5bn). Customer product sales jumped by far more than a fifth.

Lego was also boosted by its new Tremendous Mario sets, which mix actual physical bricks with electronic online games.

The enterprise designs to ramp up investment in very similar products and solutions this 12 months, including this month’s release of Vidiyo – a tie-up with Common Audio that enables little ones to make their personal new music films with distinctive outcomes and filters.